Theres no way that they are publicly shopping him and bring him back next year if no one takes their offer..
If the Saints had been a better team the past three years, it might be worth it. He really hadn't been one of the better head coaches since he returned from his suspension. I don't think he is worth any draft pick at this time, much less a high draft pick. The Dolphins have too many needs to waste them on a head coach. So I would pass on Payton if the only way to get him is to trade a draft pick for him.
I am actually really surprised that the asking price is that low. I assumed a first rounder at least. The going rate for coaches has shown that a bounty is usually afforded the team forfeiting the coach.
I wouldn't rule out Payton, even with the 2nd round pick. I'd interview him, see what his vision is, see if our personnel (less the OL obviously) is within his scheme and go from there. Payton was sucking wind in NO the past few years due to defense